Markets have endured 41% crash in most index....
This is NOT a crash...it IS a selling TSUNAMI......
From Oct 10 we have tested the LOWS 4 times in 10 trading days...never EVER happened before??
Every stock has made series of new lows.......
Minimum carnage is 50% while MOST down close to 75%..some are hitting 82% down......NOT a mark of crash..it is giving stocks away for any money.....
Most stocks hit new LOWS on Friday on 4th RETEST of lows.....
Will it EVER end?
If you listen to CNBC it will ONLY end when Art Cashin of UBS is convinced that there has been capitulation.....one man decides the fate of billion & trillion in $.....if this is a CRUEL joke ..I do not know ..what can be......an employee of UBS hold the key of this market selling Tsunami????
The question is...is Art Cashin a frontman for SHORT hedge funds..who is brought ON CNBC 5 times a day to express DISGUST to market NOT falling 1000 points.....sure enough daytraders panic & sell everything as soon he come on CNBC.....taking index near LOWS......
I am sure this "sick game coordinated by UBS Art Cashin,CNBC & Shorts Cartel WILL come to an END"
I am willing to go on a limb & declare that "market will find its footing RIGHT HERE & RIGHT NOW"
Many stocks have been trashed RIMM,AAPL,DRYS,POT,MON,X,GOOG,BIDU,CMED,Gold,Oil.
US$ is overvalued......
Another technical outfit Elliott Wave theorist have been WRONG for 21 years...in 1987 Robert Prechter predicted markets are OVERVALUED..which they WERE based on PE 0n S&P 500 almost 27 then vs 10 now.....EW predicted that Dow will go to 400....he was wrong by 1300 points or WRONG by over 300%....statistically it is a DISASTROUS call with NO CREDIBILITY...Now he is predicting another 25% correction...I am ALMOST certain he will MAINTAIN his record of "stupid calls"
So.....You can be scared of Short Cartel OR start picking UP very good stocks @ DEEP DISCOUNT prices......
Warren Buffett & Bob Doll has more CREDIBILITY & Investment SAVVY than Art Cashin & Short Cartel......
Good luck with your OWN due diligence & go for FEW strong stocks...as starting point ..then see how it goes against the CNBC drumroll for Short Cartel.
NOT everybody has to THINK & ACT like daytraders.
Economic hysteria will be over by May 09....imho
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Ditto on the commentary today. I belong to a mega church 6000+ members. The leadership is doing their best to bolster spirits as many people have lost their savings. This is a disaster for most middle class families who have faithfully saved in IRA's and 401's. If I had more cash I would be buying. The democrats are talking of removing tax incentives on retirement accounts. A very bad thought. Pour on the suffering!
Hi Standards,
Thanks for your feedback.
This is an internaional tragedy which IS being addressed by world government in unison.
I do not believe that Barack will be able to do many things which he was planning.....reality of the current situation will prevail & democrats will do the RIGHT things.
Saleem
SALEEM
Nt political
But politicians will be crappy no matter what--Please put no faith in them to do the right thing
Look at the $700 billion bailout --nothing spent yet!
I go to church seldom I pray at home a lot, I also volunteer at Walter Reed to help wounded military warriors.
They warm my heart and I love them all equally! I seek solace in the goodness of mankind and hope for the best in all of us.
As for market--another interest rate coming -- bets on 3/4 cut?? Any one care to bet?
M
Hi Madmax,
Politicians always do the right thing ..when they are forced into it.....just look @ last $700 billion rescue drama....
Yes prayers anywhere is good for soul.....
50BP cut is m guess.
Could today be the FINAL test of LOW/SUPPORT....close should tell!!!
Saleem
Hi Madmax,
As a veteran myself, I wish to thank you for your support of the veterans.
We need more like you in the world. I do volunteer work thru the church myself.
Pray for our leaders to do the right thing.
hi Standards
thanks for your thought full kind words appreciated
Trust me that the Veterans appreciate kind thoughts and prayers --by the way there are no athesites in a fox hole!
Look up MON up $3 bucks today
Is a bottom in???? RIMM us a little as is AAPL.
Rate cut thoughts 3/4 % is the DC talk
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